Plan to reduce cost of doing business in Jamaica
The Bruce Golding administration is moving to reduce the cost of doing business in Jamaica.
The government has received the Inter-American Development Bank's (IDB) assistance in reaching that goal. Minister of Finance and the Public Service, Audley Shaw and the
President of the Inter-American Development Bank, Luis Alberto Moreno
have signed a US$30 million for a Competitiveness Enhancement Programme
for the Caribbean island as part of a proposed US$90 million loan to
enhance competitiveness in Jamaica in the 2008/2009fiscal year. "The program seeks to enhance competitiveness in Jamaica by
promoting specific reforms to reduce the cost of doing business and
establishing a sustainable frame-work for public private dialogue,
thereby improving efficiency and the ability of businesses to compete
in an increasingly global marketplace," the IDB said in a release. The projected will be executed by the Planning Institute of Jamaica (PIOJ). Mr. Shaw said he was satisfied that his deliberate policy of
re-engaging with the IDB on a more intensive basis was already bearing
fruit. A release from the Jamaica government indicated that during the
course of this fiscal year, two additional loan agreements with the IDB
of US$30 million each, based on its commitment to effect reforms to
transform education and improve fiscal management, are expected to be
signed. This will represent a total of US$150 million in policy-based loans from the IDB. Source: Caribbean360.com
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